Hecla Mining Co.NYSE
What The Hecla: An Overpriced Miner With <$1 Per Share Of Intrinsic Value - Seek Upside Elsewhere
The Asymmetric Angler • 73 Comments
The Asymmetric Angler • 73 Comments
Tue, Nov. 8, 12:16 PM
- Hecla Mining (HL +5.5%) is sharply higher after beating analyst estimates for Q3 earnings and revenues, and adjusted EBITDA of $75.2M soared 323% higher than in the prior-year quarter.
- HL reports total Q3 silver production of 4.3M oz. surged 67% Y/Y, gold production of 52K oz. jumped 19%, and silver equivalent production of 10.3M oz. was a 17% Y/Y gain.
- The Q3 average realized silver price was $19.53/oz., up 34% Y/Y, and the average realized gold price was $1,341/oz., up 20% Y/Y.
- HL raises its FY 2017 total silver production to 16.25M oz. from an earlier outlook of 15.8M oz., while keeping its view of total gold production unchanged at 233K oz.
Tue, Nov. 8, 6:33 AM
Mon, Nov. 7, 5:30 PM
Tue, Oct. 25, 5:56 PM
- Citing a bullish outlook on silver prices, Canaccord Genuity initiates coverage of two silver producers with Buy ratings: Coeur Mining (NYSE:CDE) among the $1B-plus market cap producers on its recent exploration success at Palmarejo and low cost structure at Wharf, and Fortuna Silver (NYSE:FSM) among the smaller cap names due to its execution and cost controls.
- Meanwhile, the firm rates Pan American Silver (NASDAQ:PAAS), Hecla Mining (NYSE:HL) and Endeavour Silver (NYSE:EXK) at Hold.
- Canaccord says investors who missed the first leg up in silver commodity prices and silver producer equities now have a second chance following the recent pullback.
- The firm projects at least 5% upside in silver prices over the next 12-18 months as zinc and lead mine closures impact supply, and says increasing demand from the photovoltaics industry and inflationary pressures from higher oil prices also should boost silver prices.
- ETFs: AGQ, SIL, USLV, ZSL, DSLV, SLVP, DBS, USV
Tue, Oct. 18, 2:01 PM
Tue, Oct. 18, 11:29 AM
- Hecla Mining (HL +4.2%) moves higher after reporting preliminary 67% Y/Y increase in Q3 silver production to more than 4.31M oz. and a 20% Y/Y rise in gold production to 52.1K oz.
- HL says the strong performance from its mines prompts it to increase its 2016 silver production estimate to 16.25M oz., highest in the company's history, from its earlier outlook for 15.75M oz.
- HL says its cash and related holdings totaled $192M at the end of Q3, $33M more than at the end of Q2, and includes $16M of insurance proceeds for the Troy Mine reclamation.
Mon, Oct. 17, 2:01 PM
Tue, Aug. 9, 3:48 PM
- Hecla Mining (HL +3.2%) moves to a 52-week high after J.P. Morgan upgrades shares to Overweight from Neutral with an $8 price target, saying the company boasts "high quality assets in increasingly attractive locations."
- FBR Capital reiterates a Market Perform rating on HL and raises its price target to $6 from $5, saying the company is strong operationally but fairly priced.
- Last week, HL reported better than expected Q2 earnings and revenues, with silver production up 71% Y/Y at 4.2M oz. and gold production up 41% at nearly 63K oz.
Thu, Aug. 4, 6:36 AM
Wed, Aug. 3, 5:30 PM
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Tue, Jul. 26, 7:57 AM
- Hecla Mining (NYSE:HL) withdraws its takeover bid for Dolly Varden Silver (OTCPK:DOLLF) after provincial regulators in Ontario and British Columbia allowed the junior miner to proceed with a private placement equity offering.
- Shortly after HL launched its ~$10M bid, Dolly Varden announced a proposed $6M private placement that would be equal to ~43% of the company’s market value.
- After regulators recently changed Canadian takeover rules to reduce the effectiveness of poison pills, which had been a common takeover defense, Dolly Varden’s response to HL’s hostile bid has raised question about whether private placements could emerge as a common defense in Canada.
Tue, Jun. 14, 9:10 AM
- Hecla Mining (NYSE:HL) appoints Lindsay Hall as its new CFO, following the retirement of James Sabala.
- Lindsay has more than 37 years of financial experience, and most recently was Executive VP and CFO Goldcorp; he also has held senior financial positions at Duke Energy.
- Sabala had served as CFO since 2008, when he joined HL after five years as CFO of Coeur d'Alene Mines.
Fri, Jun. 3, 3:58 PM
- Gold miner stocks are skyrocketing, with the sector enjoying its best day in nearly seven years, as the disappointing May jobs report helped spark a strong rally in the yellow metal.
- The VanEck Vectors Gold Miners ETF (GDX +11.1%) surged more than 10% on heavy volume, and all 24 of the ETF’s U.S. equity components traded higher, with 10 of them enjoying double-digit percentage gains.
- In today's trade: ABX +12.9%, NEM +9.5%, GG +7.7%, AEM +11.1%, OTCPK:NCMGY +10.7%, KGC +15.4%, SLW +9%, FNV +9.1%, RGLD +9.4%, EGO +9.8%, GFI +13.7%, SBGL +8.2%, HMY +13%, IAG +16.4%, AU +14.4%, GOLD +8.6%, AUY +13.9%, NGD +9.6%, HL +12.1%, CDE +11.6%, TAHO +10.8%, NG +12.2%, AG +12.3%, PAAS +8.9%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, RING, PSAU, SGDJ, TGLDX, GDXX, GDJJ, GDXS, GDJS
Fri, Jun. 3, 9:16 AM| Fri, Jun. 3, 9:16 AM | 26 Comments
Tue, May 24, 8:55 AM
- Mines Management (NYSEMKT:MGN) +34.1% premarket after Hecla Mining (NYSE:HL) agrees to acquire the exploration-stage mining company through a share exchange.
- In the proposed merger, each outstanding MGN share will be exchanged for 0.2218 of an HL common share.
- Following the closing of the merger, HL says it plans to advance the evaluation program of MGN's Montanore project, which is considered one of the largest undeveloped silver and copper deposits in North America.
Thu, May 5, 5:35 AM
- Hecla Mining (NYSE:HL): Q1 EPS of $0.02 beats by $0.01.
- Revenue of $131.02M (+10.0% Y/Y) misses by $1.76M.